Real Estate Blog - Red Hook NY Real Estate Market Report for March 2009

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Red Hook NY Real Estate Market Report for March 2009

Red Hook NY Market Report March 2009

In the month of March in Red Hook the number of active listings under $400,000 numbered 34, of which 12 had price reductions. Within the $400,000 to $999,000 range there were 18 available listings and 8 of those had price reductions. Above $1,000,000 there were 4 listings with one price reduction. The average price in the active category was $508,964.00 and this was only because of the 4 listings over $1,000,000.

Of the 4 sales, 3 were in the $200,000 range and this pattern is also noticeable in other towns; here is where most action is being seen.

I can also see an opportunity here for First Time Buyers. Most of the available listings are within the $200,000-$300,000 range. Keep in mind the $8000 Tax Credit will only apply to purchases made by December 1, 2009. Search for an affordable Red Hook home here

RED HOOK REAL ESTATE MARKET REPORT - SINGLE FAMILY HOMES MARCH 2009

56 Active	$ 508,964.00	153	2496	$204
2 New	$ 257,000.00	4	1300	$198
1Offer	$ 265,000.00	64	1820	$146
2 Offers-CS	$ 284,963.00	182	1525	$187
3 Price Chng	$ 524,667.00	159	3276	$160
4 Sold	$ 312,288.00	148	1936	$161
	AVG SOLD PRICE			AVG $/SQ FT
	$ 282,812.00			$146
Street	Price
Route 199	$230,000.00
Norton Rd	$250,000.00
Trow Blvd	$270,000.00
Annandale Rd	$381,250.00

VILLAGE OF RED HOOK REAL ESTATE MARKET REPORT - SINGLE FAMILY HOMES MARCH 2009

CATEGORIES	AVG LISTING PRICE	DOM	AVG SQ FT	AVG $/SQ FT
5 Active	$ 316,200.00	133	1420	$223

In March there were no sales reported in the village. Just 5 listed and 2 had price reductions.

****Data for the single family detached home report was obtained from the MidHudson MLS System.

For additional information or assistance with purchasing or selling a home please contact Jennifer Fivelsdal- Associate Broker- Keller Williams Realty Team - 845-758-6842- jennifer@jfivehomes.com and www.jfivehomes.com

Posted by Jennifer Fivelsdal, Fishkill NY on 04/04/2009 03:42 PM

Comments (6)

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Originally posted at: Rhinebeck Living: Red Hook NY Real Estate Market Report for March 2009

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6 Comments on Red Hook NY Real Estate Market Report for March 2009

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Jennifer - The level of inventory in the $200,000-$300,000 range is definitely a great buying opportunity for first time homebuyers in the Red Hook area especially when it's combined with the $8,000 tax credit.

Jennifer most of the Loans that I have been doing lately fall in the $250,000 range and under, which follows along with what you are seeing there in Red Hook.

Jennifer: It looks like there is a home within anyone's budget in Red Hook.

Donna - I sure hope many will take advantage of this opportunity. Today I was talking to someone from another area and she indicated that buyers who were previously shut out of the market because of the high prices are now getting into the market.

George - This seems to be a pattern which indicates that most of the buyers are first time buyers.

Kat - That is true there are many styles and price range.

Jennfer: It is so nice to see homes in our area affordable for first time buyers. I have several buyers who are taking advantage of the tax credit and low interest rates.

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